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Credit Suisse plans knock-out notes due 2017 linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Sept. 8 – Credit Suisse AG, London Branch plans to price 0% knock-out notes due Dec. 13, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the final index level is less than the initial level by more than 15%. The exact knock-out buffer will be set at pricing.
If a knock-out event does not occur, the payout at maturity will be par plus a fixed payment that is expected to be 8.4% and will be set at pricing. If a knock-out event has occurred, investors will have one-to-exposure to the index’s decline from its initial level.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
The notes will price Sept. 9.
The Cusip number is 22548QH81.
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